Coffee Catch-Up
At IAM, we ensure our clients interact with industry experts to get the best value for their investments. We caught up with one such expert, IAM’s Executive Director of Fixed Income Sales, Peter Curtin for a coffee.
Read excerpts from our Q&A below:
Hi Peter! Thanks for taking the time out for this interview. We don’t want to take too much of your time, so let’s dive right in and get started with a little bit about your career.
1. What brought you to IAM? Talk us through your journey till here.
I have been in the Fixed Income market since the late 80’s with Westpac (and what a time that was) so I’ve been around a while, and the opportunity to work with some great people from Jon Lechte, James Shillington & Kyle Lambert to name a few was too good to pass up.
2. Was being an Executive Director of Fixed Income Sales your first career choice?
Like probably everyone – no, my first choice, like so many others, was to be an AFL player ! I was introduced to Fixed Income when at Westpac and to be honest I did not really know it existed but once I was involved I was in and have not looked back since.
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Speaking of fixed income, let’s look at some of your expertise at work:
3. What in your opinion, are some of the misconceptions people have towards bond investing and what are your thoughts on that?
Misconceptions = non-understanding. This not only from non-professionals but also from so called professionals normally in the equity market. People don’t understand asset “market spreads” in the Fixed Income market and therefore don’t understand Fixed Income. The sad thing is its easy to understand, its not rocket science and you only need to speak to a specialist meaning anyone in the IAM Capital Markets. Sounds like I’m “talking my book” but frankly I’m not & I would encourage any Financial advisor, SMSF, Family Office investor and especially any Family Office to get involved.
4. What according to you are some of the best investment practices to succeed in today’s Australian economy, given the current market volatility.
Firstly I’m a Fixed Income investor over an equity investor, my SMSF supports that. In Fixed Income, the first question I ask is “how do I lose my capital?” Then its about the margin over the benchmark, then whether fixed, floating or Inflation linked & the term. Right now I prefer Floating (FRN) as I see the risk of higher rates than the market is pricing. Though I do not think a recession is coming, slower growth yes but strong employment will keep us in the GDP black.
And lastly, we’d like to get a peek at after-hours Peter, i.e., when you’re not picking the best bonds for clients to invest in.
5. Since you’re currently based in Melbourne, what would you say are the best & worst parts about living here?
Melbourne’s magnificent and this from a NSW Riverina boy. The sport is simply sensational not only the AFL but also the Australian Open then the GP for the petrol heads and there’s so much more.
The restaurants are the envy of the world and the culture with festivals like the Comedy Festival in May has to be experienced.
The bad they say is the weather, but I love the different seasons. I swim & ride right through the winter so it can’t be that bad, though I would like the water temperature they have up north.
6. What is something you’re looking forward to the most this year?
Besides pumping out thousands of k’s on the bike, I have no 3 in Year 12 at school which is always a big year. Holidays are always fun as a family and I hope the Saints can contest in September.
Peter’s Favourite Bonds
Why are they your favourite bonds at this time?
Australian Factoring Company 10.27% 01/06/2026 – a part of the listed company Butn (ASX:BUTN) With a 30 day BBSW + 7.00% giving investors currently 10.27% with every chance higher with RBA cash rate increases.
Medpro Senior Secured 9.27% 28/09/2025 – With a 30 day BBSW + 6.00% giving investors currently 9.27% with, like the AFC A Bond, every chance higher with RBA cash rate increases. If these Bonds become available I would be quick to secure an allocation, especially if offered at PAR.
